Hanwha SolarOne unveils 1 GW North American PV pipeline

Korea’s Hanwha SolarOne Co. Ltd is continuing with its downstream expansion strategy. Amid rumors the Hanwha Group is gearing up to take over Germany-based Q.Cells, the company has launched Hanwha SolarEnergy America (HSEA) in North America.

Hanwha SolarOne is strengthening its downstream position.

Hanwha SolarOne

HSEA will focus on the photovoltaic project business, dealing with project financing, development, and EPC and O&M solutions in both the commercial and utility sectors, according to a statement released. The move is said to represent the complete integration of California-based Solar Monkey into the Hanwha Group.

Matthew McCullough, CEO of Hanwha SolarEnergy America stated, "With a thousand megawatts of projects in the pipeline, the newly branded Hanwha SolarEnergy America represents a significant force in project development. The full capabilities of Hanwha Solar, from manufacturing to project development to finance, will allow us to become a leading provider of solar energy services in North America."

The new company is already said to have completed a number of photovoltaic projects, including 1.14 MW for the Los Angeles Unified School District and a 450 kW system for Hydro Systems Inc.

"The group’s affiliate Hanwha Chemical is in the final stage of negotiations to absorb Q-Cells," wrote the Korea Times. It added that a 100 strong group was sent to conduct due diligence at Q.Cells’ German headquarters and Malaysian manufacturing plant in May.